DGAP-News
Successful business performance for KWS - Full-year targets confirmed after end of the third quarter 2015/2016
DGAP-News: KWS SAAT SE / Key word(s): 9-month figures/Quarter Results
Successful business performance for KWS - Full-year targets confirmed after
end of the third quarter 2015/2016
26.05.2016 / 07:30
The issuer is solely responsible for the content of this announcement.
Successful business performance for KWS - Full-year targets confirmed after
end of the third quarter 2015/2016
26.05.2016 / 07:30
The issuer is solely responsible for the content of this announcement.
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Einbeck, May 26, 2016
No. 32 | ww
Successful business performance for KWS - Full-year targets confirmed after
end of the third quarter 2015/2016
Revenues increased after nine months - Earnings in line with expectations -
Full-year targets expected to be met
KWS SAAT SE (ISIN: DE0007074007), one of the world's leading seed breeding
companies, reports a rise in net sales for the KWS Group of EUR833.2
million, or 7.1%, after the end of the first nine months of fiscal
2015/2016. Income (EBIT) was down year on year due to negative currency
effects, higher costs of sales and increased expenditure on research &
development and distribution totaling EUR128.7 (140.1)(1) million. After
the
end of the important third quarter, KWS confirms the full-year targets: Net
sales growth will be 5% to 10%; the EBIT margin is expected to be at least
10%.
"We're delighted that our customers are again putting their trust in KWS'
good variety performance this fiscal year and that we've therefore been
able to maintain our market position," said Eva Kienle, Chief Financial
Officer of KWS SAAT SE, summing up the third quarter, which is particularly
important due to the spring sowing season. "The stable earnings forecast of
an EBIT margin of at least 10% by the end of the fiscal year, despite the
challenging current market environment, rounds off these successful
results." The expansion of research & development and distribution were
continued during the first nine months. Spending on this increased by EUR21
million, consistent with expectations. In contrast, administrative expenses
increased only slightly and below-proportionately relative to net sales.
Increased costs of sales and negative currency effects also influenced the
operating income (EBIT). It fell year on year to EUR128.7 (140.1) million.
Total capital expenditure after nine months was EUR68.3 (95.6) million.
This figure was significantly higher in the previous year as a result of
the acquisition of the remaining shares in SOCIÉTE DE MARTINVAL S.A.
(MOMONT).
Segment reporting(2): all product segments are growing
Despite the still strained economic situation and declines in cultivation
Einbeck, May 26, 2016
No. 32 | ww
Successful business performance for KWS - Full-year targets confirmed after
end of the third quarter 2015/2016
Revenues increased after nine months - Earnings in line with expectations -
Full-year targets expected to be met
KWS SAAT SE (ISIN: DE0007074007), one of the world's leading seed breeding
companies, reports a rise in net sales for the KWS Group of EUR833.2
million, or 7.1%, after the end of the first nine months of fiscal
2015/2016. Income (EBIT) was down year on year due to negative currency
effects, higher costs of sales and increased expenditure on research &
development and distribution totaling EUR128.7 (140.1)(1) million. After
the
end of the important third quarter, KWS confirms the full-year targets: Net
sales growth will be 5% to 10%; the EBIT margin is expected to be at least
10%.
"We're delighted that our customers are again putting their trust in KWS'
good variety performance this fiscal year and that we've therefore been
able to maintain our market position," said Eva Kienle, Chief Financial
Officer of KWS SAAT SE, summing up the third quarter, which is particularly
important due to the spring sowing season. "The stable earnings forecast of
an EBIT margin of at least 10% by the end of the fiscal year, despite the
challenging current market environment, rounds off these successful
results." The expansion of research & development and distribution were
continued during the first nine months. Spending on this increased by EUR21
million, consistent with expectations. In contrast, administrative expenses
increased only slightly and below-proportionately relative to net sales.
Increased costs of sales and negative currency effects also influenced the
operating income (EBIT). It fell year on year to EUR128.7 (140.1) million.
Total capital expenditure after nine months was EUR68.3 (95.6) million.
This figure was significantly higher in the previous year as a result of
the acquisition of the remaining shares in SOCIÉTE DE MARTINVAL S.A.
(MOMONT).
Segment reporting(2): all product segments are growing
Despite the still strained economic situation and declines in cultivation
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